Here are the 10-Q quarterly reports from Lake Superior Acquisition Corp. Rights (LKSPR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LKSPR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LKSPR filings page.
Lake Superior Acquisition Corp., a SPAC based in the British Virgin Islands, reported net income of $852,978 for the quarter and $1,489,212 for the six months ended June 30, 2026, driven entirely by interest income of $2,057,954 on IPO proceeds invested in its Trust Account. General and administrative expenses were $182,522 for the quarter and $568,742 year-to-date, reflecting costs of operating as a public shell and pursuing a transaction.
Total assets were $118.3M, including $118.1M in the Trust Account backing 11,500,000 redeemable Class A shares at approximately $10.27 per share. Cash outside the Trust Account was $135,803, with a working capital deficit of $136,860 and a deferred underwriting fee of $4.6M.
The company has entered into a definitive Business Combination Agreement with Openmarkets Group Pty Ltd, under which the seller will receive approximately 30,000,000 Purchaser Shares plus up to 70,000,000 additional Milestone Shares based on post-closing performance. Management discloses that limited liquidity, the need for additional financing, and the requirement to close a business combination by April 8, 2027 raise substantial doubt about its ability to continue as a going concern if a deal is not completed.
Lake Superior Acquisition Corp., a SPAC based in the British Virgin Islands, reported net income of $636,234 for the quarter ended March 31, 2026, driven by $1,022,454 of interest on funds held in its IPO trust, partly offset by $386,220 of general and administrative expenses.
Total assets were $117.3 million, including $117.0 million in the trust account and $184,009 of cash outside the trust for working capital. The company has 11,500,000 Class A public shares classified as redeemable at approximately $10.18 per share as of March 31, 2026, plus 3,833,333 Class B founder shares.
The SPAC has entered into a definitive Business Combination Agreement with Openmarkets Group Pty Ltd, under which the seller is to receive about 30,000,000 shares of a new purchaser entity, valued at a deemed $10.00 per share, plus up to 70,000,000 additional milestone shares. Management discloses substantial doubt about the company’s ability to continue as a going concern due to limited working capital of $45,662 and the need to complete a business combination by April 8, 2027 or liquidate.